Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Seizert Capital Partners LLC

Seizert Capital Partners LLC decreased its position in Mueller Industries, Inc. (NYSE:MLI) by 31.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,741 shares of the industrial products company’s stock after selling 67,561 shares during the quarter. Seizert Capital Partners LLC owned 0.13% of Mueller Industries worth $10,799,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MLI. LSV Asset Management raised its stake in Mueller Industries by 44.1% during the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after acquiring an additional 641,114 shares during the period. Fiera Capital Corp bought a new stake in shares of Mueller Industries in the 3rd quarter worth approximately $35,552,000. F M Investments LLC acquired a new position in Mueller Industries during the 2nd quarter valued at approximately $14,441,000. Massachusetts Financial Services Co. MA grew its stake in Mueller Industries by 1,124.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock worth $5,633,000 after buying an additional 90,841 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Mueller Industries by 163.6% in the second quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock worth $6,790,000 after buying an additional 73,567 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 3.95 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Performance

Shares of MLI opened at $88.68 on Friday. The firm has a fifty day moving average of $77.35 and a 200-day moving average of $67.20. The company has a market cap of $10.09 billion, a price-to-earnings ratio of 17.22 and a beta of 1.01. Mueller Industries, Inc. has a 1 year low of $40.43 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. The firm’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

About Mueller Industries

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.